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Financial News presents a round-up of the week's top hires and job switches in the financial services industry.

• Moves of the week

Bank of England

The Bank of England has announced a shake-up in its top ranks as part of a strategy change that puts a senior International Monetary Fund official in one of its major roles.
The Bank has appointed Nemat “Minouche” Shafik to the new post of deputy governor for markets and banking. She will join in August from the IMF, where she oversees operations in Europe and the Middle East, has responsibility for its $1 billion administrative budget and handles HR for its 3,000 staff.

Other appointments as part of the changes are Anthony Habgood, chairman of Whitbread, Reed Elsevier and data provider Preqin, who will succeed Sir David Lees as chairman of the court of the Bank of England in July; while former Goldman Sachs economist and economic adviser at the Treasury Ben Broadbent becomes deputy governor for monetary policy the same month.

Andy Haldane, executive director, financial stability, has been appointed to chief economist. The role is being expanded to build the Bank’s research, analysis and data capability. He will oversee the monetary analysis director, a newly created role.

Other changes include: the creation of directorates for prudential policy and financial stability strategy and risk, and an international directorate; the appointment of markets director Paul Fisher as an executive director for specialist supervision and regulatory operations in the Prudential Regulatory Authority; the creation of an independent evaluation unit and the appointment of a new director for supervision of financial market infrastructures, reporting to Sir Jon Cunliffe, deputy governor for financial stability.

JP Morgan

JP Morgan has hired a three-time Financial News Rising Star of Trading and Technology into its Asia business, as it continues to strengthen its electronic trading operations in the region. Stuart Baden Powell is to join the US bank’s equities electronic trading business in Asia as an executive director, according to a person familiar with the hire.

Named on the FN 40 Under 40 Rising Stars of Trading and Technology list for the last three years, he was most recently head of European, Asian and Australian market structure, regulation and government affairs at RBC Capital Markets. He left the bank last month, according to the UK’s Financial Services Register.

Citigroup

Citigroup has named one of its most senior salespeople to head its markets business in Europe after promoting the incumbent to a new global sales role. The bank named Leonardo Arduini, most recently head of investor sales for markets in Europe, the Middle East and Africa, as head of its markets business in the region, according to a memo seen by Financial News. Arduini has previously acted as chief country officer for Italy and as global head of G10 interest rate sales.

He will replace Andres Recoder, who has held the position since February 2012. He has been appointed to a new global role co-ordinating the sales efforts in the bank’s markets and securities services business. Recoder is relocating from London to New York for the new role, the people said.

• Investment Banking

Bank of America Merrill Lynch

Bank of America Merrill Lynch has named a new head of electronic trading strategy in fixed income. Tom Klocker, who was head of algorithmic trading for fixed income, currencies and commodities at UBS, will join the bank in June as global head of e-trading strategy for FICC. He will report to Brice Rosenzweig in London and Leif Andersen in New York, who co-head the US bank’s quant group. The firm has also named Kevin McLoughlin as its new head of global insurance investment banking. McLoughlin joins from Citigroup, where he held the same role and will report to Jim O’Neil and Bill Egan.

Citigroup

Steve Conway, head of the bank’s Emea alternative assets group, has left the firm. The alternative assets group, created in 2008, sits within Citi’s investment bank and caters to private equity and infrastructure firms. Conway is a well-known figure in private equity, having spent time as global head of financial sponsors and leveraged finance at UBS and head of European financial sponsors at JP Morgan. He previously worked as a senior adviser to private equity groups TDR Capital and Advent International. He was hired to the role at Citi in 2011.

Societe Generale

Pierre-Louis Auzel has been promoted to the position of senior banker. He will be in charge of global relationship and strategic advisory for several large French corporates. Auzel was previously deputy head of group strategy, and reports to Thierry Aulagnon, head of coverage and investment banking. Auzel joined SocGen in 1996 and before that worked in consulting in Japan.

Deutsche Bank

Steven Hondelink and Benjardin Gärtner have been named as the new co-heads of the equities business for Germany and Austria. Hondelink will primarily be responsible for trading and will report to Murray Roos and Rick Saunders, co-heads of equities in Europe. Gärtner will look after sales, and will report to Jonny Potter. Both will report regionally to Dirk Schmitz, co-head of corporate banking and securities in Germany. Jens Hagemann, another Deutsche Bank veteran, who had been deputy head of cash trading, will take over as head of cash trading in Germany.

Cantor Fitzgerald

Cantor Fitzgerald Europe has announced that Tobias Woerner and Howard Prince Wright are joining the firm as senior advisers. Woerner joins from Gleacher Shacklock, where he was a senior adviser for the building and mining sectors. Before this, he worked at MF Global and Citigroup. Prince Wright is a non-executive member of the Eurobank SA board and has also worked for Saxobank, Titan Cement and Antenna Group, where he was chief financial officer.

Stifel Financial Corp

Morgan Stanley consumer internet analyst Scott Devitt is leaving the bank to return to his old firm. Devitt, who covers companies including Facebook, LinkedIn and Google, will rejoin Stifel Financial Corp as an analyst. He will continue to be based in New York. Devitt, whose departure from Morgan Stanley was described as voluntary, worked at Stifel between 2000 and 2009, according to his LinkedIn profile. He has also worked as a consultant at Dell and EY.

Otkritie

Otkritie Financial Corporation has elected a new board of directors. Ruben Aganbegyan, Vadim Belyaev and Dmitriy Romaev were re-elected, while there are five new figures: Sergey Gordeev, Aleksandr Mamut, Olga Plaksina, Aleksandr Medvedovskiy and Sergey Areshev. The company has also appointed Sergey Sukhanov to head of its equity group, replacing Georgy Mirel who is leaving the company to concentrate on his own venture, Vega Partners, a fund to which Otkritie will provide seed capital.

• Asset Management

AMP Capital

AMP Capital has announced several appointments to its global infrastructure debt team. Emma Haight joins the firm’s London office as a director. She joins from NIBC Bank of the Netherlands, where she was vice-president in its project finance division. In another addition to the London team, James Fox will join the firm at the end of April as an associate director from British Land. Spencer Ivey is moving from AMP Capital’s Sydney office to become an associate director in New York. He will be replaced in Sydney by Greg Gill, who was previously manager of AMP Capital’s fund accounting team.

Axa Investment Managers

Axa Investment Managers has announced the appointment of Tim Gardener to the position of global head of the firm’s new institutional client group. Gardener will lead the development of Axa IM’s offering and approach to institutional clients, according to the firm. He joined Axa IM in 2010 following a 24-year career at Mercer Investment Consulting. Lisa O’Connor, currently European head of consultant relations, succeeds Gardener as global head of consultant relations.

CBRE
The global real estate adviser has appointed Christina Hoffmann to head of asset services in Germany. Hoffmann will lead the newly formed business line CBRE Asset Services Germany. The firm says Hoffmann will bring more than 20 years’ experience in asset, property and shopping centre management to the role.

Nikko Asset Management
The firm has appointed Al Clark to the new role of global head of multi-asset. Clark will be based in Sydney and report to Yu-Ming Wang, who is based in Tokyo. Clark has more than 21 years’ experience in trading and portfolio management, according to the firm. He has worked for asset management groups including Macquarie Funds Management, BT Financial Group and Schroder Investment Management.

Hermes Fund Managers
Hermes Fund Managers has appointed Jennifer Stillman to the position of director, consultant relations. Stillman joins from Nightscape Capital, where she was head of business development. She has also worked for Caliburn Capital, Man Investments, PanAgora Asset Management and Clay Finlay. Stillman will be based in London and report to global head of business development Harriet Steel.

• Hedge Funds and Wealth

Affinity Investment Advisors

The firm has announced the appointment of Dennis Shea to its advisory board. The US quant manager said Shea has more than 25 years of investment experience spanning the buyside and sellside, including 23 years at Morgan Stanley, where he was most recently chief investment officer and global head of equity for Morgan Stanley Investment Management. Morgan Stanley Investment Management, the acquisitive funds division of the US bank, bought Affinity Investment Advisors in 2007.

• Trading and Technology

TMX Group

Chief executive Tom Kloet will retire at the end of August after six years at the helm of the exchange operator. Toronto-based TMX, which runs Canada’s flagship Toronto Stock Exchange and the Montreal derivatives market, as well as other markets, said it would immediately begin the search for a successor.

Rate Validation Services

Kevin Milne, who was chief executive of Rate Validation Services, has left the technology firm that is helping to overhaul the scandal-ridden Libor benchmark. Milne is a veteran of the London market infrastructure industry and joined RVS as chief executive in September 2012, having previously been head of post-trade services at the London Stock Exchange Group. He has also held senior roles at post-trade services firms Xtrakter and Omgeo.

Algomi

Grant Biggar, the former president of Creditex, has joined the company as a strategic adviser. Algomi is a London-based financial technology start-up that was co-founded in June 2012 by three former UBS executives.

Deutsche Börse

Deutsche Börse has hired a new chief compliance officer from law firm Cleary Gottlieb Steen & Hamilton, replacing Michael Steinicke who will now focus on the German exchange’s Asian expansion. James Freis will take the role from April 1. Before working at Cleary Gottlieb Steen & Hamilton, Freis was chief executive of the United States Department of the Treasury’s Financial Crimes Enforcement Network.

• Private Equity

CVC Capital Partners

James Harraway, an investment director in CVC Capital Partners’ infrastructure team, has left the firm. Before 2008, Harraway worked in investment banking at Deutsche Bank in London. CVC now has three infrastructure professionals in London and the team is headed by Stephen Vineburg, who joined CVC in 2007 from Colonial First State Global Asset Management.

Impetus

Impetus-PEF has announced the appointment of Hanneke Smits, who is chief investment officer of Adams Street Partners, to its board of trustees. Smits is responsible for formulating the global investment strategy for Adams Street Partners, and is a member of the firm’s executive committee. She joined Adams Street Partners’ predecessor firm in 1997 and before that worked for Pantheon Ventures, Philips China Hong Kong Group, Orange Nassau Asia and Knight Wendling.

• Legal, Regulatory and Consultancy

bFinance
The investment consultancy has hired Emily Porter-Lynch as a director in investment advisory. Porter-Lynch joins from Universities Superannuation Scheme, where she developed its hedge fund capabilities. At USS, she was also a member of the alternative investment committee. Before USS, Porter-Lynch was an investment director at Key Asset Management.

Wealth-X

The ultra-high-net-worth intelligence and prospecting firm has appointed Nick Griffith to lead its greater China business development. Griffith has more than 18 years’ experience in the risk and compliance field, and before joining Wealth-X worked for companies including World-Check, Thomson Financial and SPSS, which is now a part of IBM.